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<br />NOTE 4 – LONG-TERM LIABILITIES (CONTINUED)
<br />
<br />C. Changes in General Obligation Bonds and Compensated Absences Payable
<br />
<br />Beginning Ending Due Within
<br />Balance Additions Deletions Balance One Year
<br />Governmental activities
<br />Compensated absences 106,271$ 98,540$ 105,095$ 99,716$ 74,787$
<br />Business-type activities
<br />Utility revenue bonds 2,215,000 – 210,000 2,005,000 220,000
<br />Premium 125,838 – 15,557 110,281 –
<br />Total bonds 2,340,838 – 225,557 2,115,281 220,000
<br />Compensated absences 76,829 80,642 79,879 77,592 58,193
<br />Total business-type activities 2,417,667 80,642 305,437 2,192,873 278,193
<br />Total government-wide 2,523,938$ 179,182$ 410,532$ 2,292,589$ 352,980$
<br /> D. Minimum Debt Payments
<br />
<br />Minimum annual payments required to retire bonds are as follows:
<br />
<br />Year Ending
<br />December 31,Principal Interest
<br />2022 220,000$ 70,200$
<br />2023 225,000 61,300
<br />2024 235,000 52,100
<br />2025 245,000 42,500
<br />2026 255,000 32,500
<br />2027 265,000 22,100
<br />2028 275,000 12,675
<br />2029 285,000 4,275
<br />2,005,000$ 297,650$
<br />Business-Type Activities
<br />Utility Revenue Bonds
<br />
<br />E. Revenue Pledged
<br />
<br />Future revenue pledged for the payment of long-term debt is as follows:
<br />
<br />Percent of Remaining Principal Pledged
<br />Use of Total Term of Principal and Interest Revenue
<br />Debt Issue Proceeds Type Debt Service Pledge and Interest Paid Received
<br />Utility Revenue Bonds of 2018A Utility improvements Utility charges 100%2018–2029 2,302,650$ 288,800$ 5,401,871$
<br />Revenue Pledged Current Year
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